3-June-2019: The global automotive embedded telematics market
size is expected to attain a valuation of USD 37.69 billion by 2025, according
to a study conducted by Grand View Research, Inc. It is anticipated to expand
at a CAGR of 20.9% over the forecast period. Increased demand for real-time
vehicle tracking and advanced driver safety features are some of the factors
expected to drive the market growth.
The automotive embedded
telematics market is expected to witness significant growth over the forecast
period on account of the provision of customization options such as bundled
packages, pay-per-use services, and premium subscription services. Moreover,
government regulations such as eCall by the European Union (EU) in 2018,
CONTRAN 245 by Brazil in 2013, and ERA-GLONASS by Russia in 2013 have
encouraged the adoption of these systems.
The increasing volumes of
passenger and commercial vehicles and demand for improved in-vehicle
connectivity in the Asia Pacific region are expected to accelerate the market
growth. The installation/inclusion of features such as automatic collision
notifications, hands-free calling, and driver assistance in connected passenger
and commercial vehicles further encourages the growing adoption of automotive
embedded telematics systems. Introduction of navigation services, along with
the implementation of data services such as application-based services, content
management, among others are anticipated to further fuel the demand in near
future.
Stringent government
regulations concerning the safety of passengers have necessitated Original
Equipment Manufacturers (OEMs) to install security systems in vehicles. The
European Union mandated the inclusion of an eCall alarm system in all passenger
cars and light commercial vehicles produced post May 2018. The regulation
applies to all new cars manufactured in Europe. In addition to instantaneous
deployment of airbags, the eCall system automatically places a call to an
emergency response center in the event of an accident or other emergencies. The
GPS installed in the car is used to determine the vehicle’s location to
facilitate immediate deployment of emergency assistance to that location. Such
favorable government policies are anticipated to contribute to the market
expansion in the forthcoming years.
In
depth research report on Automotive Embedded Telematics Market
Further
key findings from the study suggest:
· Automotive
manufacturers are apportioning considerable investment capital and dedicating
company resources towards developing autonomous vehicles. This is anticipated
to lead to a subsequent rise in the adoption of automotive embedded telematics
systems
· Key
companies in North America including Verizon and Mix Telematics are developing
various advanced solutions in the automotive embedded telematics market and
thus expected to encourage regional market growth in near future
· Asia
Pacific is expected to emerge as the fastest-growing regional market over the
forecast period and is projected to reach USD 13.0 billion by 2025
· The key
market participants include Ford Motor Company, Continental AG, General Motors,
TomTom Telematics BV, Hyundai Motor Company, Toyota Motor Corporation, MiX
Telematics International Ltd., INFINITI Motor Company Ltd., BMW AG, and Verizon
Connect, to enumerate a few.
Grand View Research has
segmented the global automotive embedded telematics market based on component,
solution, application, and region:
Automotive
Embedded Telematics Component Outlook (Revenue, USD Million, 2014 - 2025)
· Hardware
· Service
· Connectivity
Automotive
Embedded Telematics Solution Outlook (Revenue, USD Million, 2014 - 2025)
· Safety
& Security
· Information
& Navigation
· Entertainment
· Remote
Diagnostics
Automotive
Embedded Telematics Application Outlook (Revenue, USD Million, 2014 - 2025)
· Passenger
Cars
· Commercial
Vehicles
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment